New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-30

Tho bank xchaugcs AZ the Now. York Clearing House
and the stock sold at SewYork Stock Exchange FOR
the weeks OF three years compare as follows:
wrck ondias-Mly 80 l9sj NAY - 1896 Nav -. ls'7.
Exchanges sji53l%3,7 500 % ig9 sVo,5ifgii55
The local money market ruled easy al 4HDj per cent
all The week True there were exceptional loans as
nigh As per cent ut all rates above per cent were
spasnodic anl illcgitimac Every day money closed
offered at per lower. and some days n low as
3 per cent Mercantile paper passed readily az 4'2412
per cent At Chicago aud Boston the exchanges con-
tnue to rule against this city but everywhere else tn cy
arc in our favor The foreign exchange,
were dull and rates only alternatcd between
stcadnes, and weakness with out practical
change in figures. Taking IL all In ALL there
are no Indications OF disturbance. and comfortable
working money market seems to DO assured Tor tue next
few months The redemption OF surrendered bank notes
Is becoming rapid last week tho fund held III the
Treasury redemption was reduced Si5l.oi7 although
the withdrawal Of bonds from security indicates trans
fer To- It's credit OF $4,000 Bat now bank notes
being taken out rapidly and the Treasurer may
OH present amount OF bonds deposit with him. IN
crease his cash deposits in National banks sGoOOOOo IL
Is 10 noted that the National banks OF the city OF New
York have on deposit $4,000 more bonds than throo
months ago 10 secure circulation and 7'2''oo' more
bonds 20 secure Government deposits
The general commercial and mercantile situation con,
times every respect be satisfactory The period OF
md season and OF sock-takngs is Approaching ana
some decline in tho activity which has marked the last
months is anticipated The exports OF COTTON con
time small IS compared with TINS time a. year
week they were 1898 bales against 1O,o'f Dhics
for the week Of 1856 but mat leaves tnc i3i since
septenIber / at 4lD0.l3l against 3.s21,3H Tor
the time Of the proceeding year me stalis,cu
stuaon however Is such that prices are well sustained
at a further advance last week OF cent According 10
The Chronicle the stock In sight In Europe ana America
is 10 bales less than at date OF 1856 1900 bales
less date OF 1885 aud 2il $40 bales less thhn a
date 1884 Notwithstanding that wheat has ruled ~
81 cents exports continued In liberal quantities;
The situation tho stock Exchange Is not materially
changed from what IL week ago The 9cnefa ponu
market ruled strong all last week with demand ein
been dull, aud with some disposition 10 reallo fccehJ
profits. bearish efforts lacking TO re-
or less declines from tho extreme advances.
OF rates among the Western roads. Tight money
was talked because Of Treasury INSCRIPTIONS and tie
a smart reaction In prices Unquestlonaly there nave
been large realizing sales by both great aud small specu
laors and short interest created OF no mean proper
hons And after that the prominent feature OF INC
market that there TO be less stocks for sale tha
OF earnings with gains which the most confident di not
dare TO predict The Lake Shore and Michigan Southern
"Oical" report for the quarter ended March 81 wcn
Is commented below gain In surplus earnings
of Si3G337 the same quarter OF 1886 IKE per
surplus Tor Tue year OF S3,s1oOoo; or oyor II
per cent ON the stock. NewYork, Lake Erie ana
30 show gain OF l3 per cent aproportonate gam io
The remaining i've months VIII give net earnings eqh W
To expected the gains will be great not greater
than In the last three and mOnthsi such clichn-
these controlling the market OF the stock
Exchange and make pigmics OF operators who sell o
for "a turn" and then attempt TO manipulate ioNoi
prices. There 10 no boom or excitement On tho con-
trary the markets du but constant although luos
absorption period OF three or four months makes
large break In the amount OF stocks on the markeL
latter part OF last week developed Indications Oh
preparations for more activity In tho near future ~
seems probable that the market Il TO have ieader
who will not regard an advance OF 213 cent "a dan
gorous rise" The week closed with duh AID strong m
Sahoined ia our usual table giving the highest lowest